Trinity Legacy Partners LLC Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Trinity Legacy Partners LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 31,616 shares of the company’s stock after acquiring an additional 1,699 shares during the period. Trinity Legacy Partners LLC’s holdings in Johnson & Johnson were worth $4,621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Johnson & Johnson by 506.9% in the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Johnson & Johnson by 59.0% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares during the period. Finally, Swedbank AB purchased a new position in Johnson & Johnson in the first quarter worth approximately $331,178,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $162.80 on Wednesday. The company’s 50 day simple moving average is $161.82 and its 200-day simple moving average is $154.18. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a market cap of $391.90 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period in the previous year, the business posted $2.80 earnings per share. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JNJ shares. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Friday, September 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.